Sensex, Nifty close lower; ICICI Bank, Reliance Industries, SBI top losers : Bulletin: Business Today
 

Sensex, Nifty close lower; ICICI Bank, Reliance Industries, SBI top losers

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May 16, 2018

The Sensex and Nifty closed lower in trade today as uncertainties around the formation of the next government in Karnataka hurt investor sentiment. 

While the Sensex fell 156 points or 0.44% to 35,387 level, the Nifty was down 60 points to 10,741. Banking stocks led the losses with the BSE bankex falling 349 points to 29,357. 48 level.

Bank Nifty too fell 291 points or 1.10% to 26,182 level.

In fact, banking stocks were among the top Sensex losers with ICICI Bank falling 3.28%, Reliance Industries (2.34%) and SBI down 2.19%.

Oil and gas stocks were not far behind with the BSE oil and gas index losing 232 points to 14,499 level.

On the positive front, Hindustan Unilever, ITC and Wipro were the top Sensex gainers.

The ITC stock closed higher as the firm reported a 9.86 per cent increase in standalone net profit at Rs 2,932 crore for the fourth quarter ended March 31, 2018. The company had posted a net profit of Rs 2,669 crore in the January-March period a year ago, ITC said.

Reliance Communications, Syndicate Bank and PNB were the top three losers on the BSE.

Market breadth was negative with 993 stocks closing higher against 1645 ending lower on BSE. 119 stocks were unchanged.

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